Mid Term trend has reversed today as last week's inside day is invalidated on a daily basis.
10Y Turkish Bonds also lowered today confirming the direction the trend. Also Turkish Central Bank was a net seller at 5.4 with 800K+ contracts in futures market.
4.52 target is still on cards unless price reverses sharply above trendline.
Supply side of the market is quite strong. Both red lines are critical levels of WTI and price may either bounce from the trendline or dips towards 48$.
We don't know anything yet so too soon to talk about. But watching it quite closely.
Gold has found resistance at it's quarterly level once again and we are considering to go short after the close of September. A short signal has to be generated to support our trading idea in early October.
We believe market is at the very top and big money can not afford to hold for long due to swap cost. There is a good probability for a mean reversion (not a reversal).
Will change views if pair closes above 3.6475 on a weekly closing basis.